Nigerian Bank Nigeria – Afromedia, Daar, Others Present Result To Shareholders

Source: Guardian, March, 2011

AFROMEDIA Nigeria Plc has posted N969.4 billion turnover in its 2010 first quarter performance, against N661.6 million recorded in 2009.

Specifically, the company’s unaudited result for the first quarter ended December 31, 2010 shared a turnover of N969.4 billion over N661.6 million recorded in the comparable period in 2009 while profit after tax stood at N134.6 million compared to profit after tax of N161 million in 2009.

The company’s Net Asset Value stood at N5.4 billion, compared to N5.3 billion as at September 2009. Similarly, unaudited result of Daar Communications Plc for the third quarter ended September 30, 2010 showed a turnover of N2.8 billion against N2.9 billion recorded in the comparable period in 2009. Its profit after tax stood at N1.9 billion compared to profit after tax of N195 million in 2009. Its Net Asset Value in stood at N12 billion compared to N13.9 billion as at December 2009.

Chams Nigeria plc forecasts a turnover of N1.8 billion and profit after tax of N36.5 million during the second quarter ending March 31, 2001.

Nestle Nigeria Plc and UAC Plc forecast turnover of N22.1 billion and N25.6 billion and profit after tax of N2.2 billion and N1.4 billion during the second quarter ending June 30, 2011.

Also within the same period, UACN Property Development Plc and Japaul Oil & Maritime Services Plc’s turnover is expected to increase to N3.3 billion and N5.5 billion with profit after tax of N674.2 million and N1.4 billion.

Diamond Bank Plc’s gross premium is also expected to hit N26.5 billion with profit after tax of N4 billion during the same period.

Chemical and Allied products Plc told the NSE that its turnover is expected to increase to N922 million with profit after tax of N183.6 million during the same period while Portland Paints & Products Plc is to realise a turnover of N710 million with profit after tax of N68 million at the same period.

Berger Paints Plc also forecasts a turnover of N1.6 billion and profit after tax of N157.4 million during the second quarter ending June 30, 2011.

Julius Berger Plc is to realise a turnover of N80.2 billion and profit after tax of N2.2 billion during the same period.
Livestock Feeds Plc and Airline Services & Logistics Plc are expected to generate a turnover of N831.6 million and N867.2 million with profit after tax of N30.5 and N62.1 million at the same period.

IAS Nigeria Plc has notified stakeholders their its yearly general meeting has been rescheduled for April 8, 2011 due to logistic reasons.

The company added that the new date of closure of register for members is stated as March 21, 2011 while payment is due on April 15, 2011.

Nigerian Bank Nigeria